Colombian Exports Register Major Drop in 2016 as Fuel and Manufacturing Suffer

EspañolColombia closed 2016 with a noticeable drop in exports in 2016, according to the National administrative Department of Statistics, having gone from US 35.6 billion to US $31 billion.

Fuel reportedly registered the strongest drop, following by mining at -21.7 percent, following by manufacturing, which decreased 10 percent. Farming, food and beverages all dropped by about one percent, according to officials.

The economic situation in Colombia is not showing its best face and concern is growing regarding the tax reform that is already moving through congress. Though it seeks to improve credit qualifications, it has not been fruitful to date due to increased government spending and the mismanagement of oil prices.

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